Why Property Developers Are Investing in Smart Condo Now?

Condominium amenities have always been a means to attract new potential buyers or tenants. In the property industry, it has been increasingly competitive to provide unique selling points for new homeowners because the consumer market of IoT technology has changed everything, including how we live, how we work and even how we want our homes to be.

Consumers are demanding more from their properties nowadays. This means that they want a place where they can live in comfort and also sleep well at night without worrying about anything. Smart home systems, automation, and other high-tech solutions have been an essential part of providing brand-new features and tools, and today, developers are becoming more aware of this so that they can sell better.

Here are 4 reasons why property developers are investing in building smart homes today:

1. Adding value to the property
Smart homes are becoming more and more popular. Modernising a property with smart home technology can boost its perceived value and desirability while increasing its marketability. Not only that, having smart home considerations for new properties, can future-proof them and secure their values.

2. Increase home security
Motion sensors, built-in cameras, two-way audio communication, smart locks and water leak sensors are just a few of the features that smart home security offers. By highlighting all these advantages to buyers, the properties may stand out from the competition as smart home security systems are better than traditional security systems because of their all-around security and convenience.

3. Energy saving is the new green
Sustainability and green living are recent important issues among homeowners, especially the younger generations. Therefore, energy-saving technology is another great selling point in the property market. Smart home technology can improve energy consumption by optimising energy usage from automatically making adjustments that reduce the need for air conditioning, power and electricity.

4. Attract the next generation of buyers
When considering which new property to live in, millennial homebuyers often look for smart features in a property. The use of smart home technology could be more appealing to millennial homeowners and the younger generations who grew up with technology. They view smart home features as an upgrade and a strong selling point, and they are willing to spend more money on these improvements.

IoT will continue to influence our lives for years to come because of the ongoing progress of smart home technology and the increasing affordability of those technologies. Looking to future-proof your new property development project? Contact EKTECH today for a free consultation!